Reported about 1 year ago
Renowned investor Warren Buffett, also known as the 'Stock God', has increased his stake in Occidental Petroleum by purchasing over 2.57 million shares worth more than $150 million through his investment company Berkshire Hathaway. This move highlights Buffett's positive outlook on the energy sector, particularly in oil and natural gas industries. Occidental Petroleum's stock price decreased to $59.48 per share after the purchase, and Buffett's strategic investment positioning is expected to positively impact the stock's performance in the near future, with the market cautiously optimistic about the company's prospects. Additionally, Occidental Petroleum's collaboration with Berkshire Hathaway to commercialize lithium extraction for electric vehicles and consumer electronics further solidifies its position in the evolving energy market amidst increasing global initiatives towards carbon reduction and electrification.
Source: YAHOO